TITLE
"Rent Seeking and Insurance Education: An Empirical Test,"
Journal of Insurance Issues,
Johnson, Gordon D., J. J. Launie, and G. Michael Phillips, January
1987, Vol. X., No. 1: 47-52.
ABSTRACT
The market for insurance education functions much as any other
market. Where there is excess demand for insurance courses, administrators
respond by adding classes. When there is inadequate demand, courses
are dropped. With this in mind, insurance education is flourishing
at some universities, and languishing at others. This paper describes
a simple rent-seeking model which associates the real compensation
to insurance professionals with corresponding insurance enrollments.
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